All Articles
Silver Hill

Compulsory Purchase Order, relating to Henderson’s Silver Hill Scheme in Winchester, is granted

Henderson Global Investor’s c. £12.5 billion Property Business is delighted to announce that Winchester City Council’s compulsory purchase order, relating to Henderson’s Silver Hill scheme in Winchester, was granted on Thursday 21 March 2013. This paves the way for development on the scheme to move another step forward with construction now planned to commence in early 2014.

Henderson Global Investor’s c. £12.5 billion Property Business is delighted to announce that Winchester City Council’s compulsory purchase order, relating to Henderson’s Silver Hill scheme in Winchester, was granted on Thursday 21 March 2013. This paves the way for development on the scheme to move another step forward with construction now planned to commence in early 2014.

In his decision the Secretary of State recognised the compelling case for the scheme in the public interest which he said would support the social, economic and environmental well-being of the area.

The scheme covers approximately one quarter of Winchester and is the largest single development in the area since the Brooks Centre was built in the 1980’s. The design for the scheme, which will retain original architects – Allies & Morrison, will be built to complement the character of the current architecture of the town, providing a gross external area of c. 630,000 sq ft with an approximate breakdown as follows:

  • 95,000 sq ft retail (NIA) (of which foodstore c. 25,000)
  • 18,500 sq ft office (NIA) with 20 car parking spaces
  • 11,000 sq ft medical centre (NIA)
  • 207 private residential units
  • 100 affordable residential units – 35% of which are social rented
  • C. 168 residential car parking spaces
    C. 330 public car parking spaces

    It will bring back into full use a significant part of the Historic city centre which has been blighted for a generation by 1960’s development.

    MMX Retail are acting as retail consultants on the scheme. A preletting with Sainsbury’s has already been agreed, on a 25 year lease for a purpose built store of c. 18.500 sq ft, and further retail demand is expected to be strong.

    Martin Perry, Development Director at Henderson Property said: “We are encouraged by the strong support that we have received from the local community, ranging from the business community to the City of Winchester Trust and look forward to moving ahead with the next stage of development at this exciting scheme.

    “The attractiveness of the City together with its excellent transport facilities is reflected in it being voted for several years running, the most desirable city to live in England. However Winchester is heavily under developed relative to its location and its dominant position in the South East retail hierarchy. To date, the City has experienced a lack of modern retail units that meet the needs of national and international retailers.We are confident that the provision of new space in the city, will significantly boost the retail offer further and help drive growth in the city, retaining expenditure rather than losing footfall to other nearby competing centres such as Southampton.”

    Cllr Keith Wood, Leader of Winchester City Council, said: “This decision is good news for Winchester. It allows us to press ahead with much-needed improvements for the Silver Hill area and shows the huge confidence that exists in the economic future of Winchester.”

    The scheme is owned by Henderson’s UK Property Fund which was the top performing fund amongst its peers over a 1 year period in 2012 and for the third consecutive quarter has outperformed over a one, three, five and 10 year period. The Fund seeks outperformance by pursing a value add strategy and bringing forward innovative asset management initiatives, of which the Silver Hill scheme is a good example.

Press Office

Gemma Young, Head of Marketing & Communications

+12129165510

Sophie Hinder-Walbank, Marketing & Communications Manager

+442037278251